educational proxy allocation · no attached historical result · Four-regime balance
Permanent Portfolio
An educational proxy split among equities, long-term government bonds, short Treasury bills, and gold. It illustrates a four-regime allocation idea; no sourced historical performance result is attached.
Published · Updated
Evidence status · educational proxy allocation
No provider-backed historical result is attached to this profile. Its allocation is illustrative, not evidence of anyone’s personal holdings, performance, or a recommendation.
How to read this profile
Harry Browne described the framework in the 1980s as a way to keep the portfolio understandable across different economic conditions. The example holdings here are educational and do not reproduce anyone’s portfolio.
Equal parts make the allocation design and rebalance trade-offs easy to inspect; they do not establish a historical performance result.
Educational proxy allocation
- VTI — US equities: 25.0%
- TLT — Long-term US bonds: 25.0%
- BIL — Short Treasury bills: 25.0%
- GLD — Gold: 25.0%
These liquid ETF proxies do not reproduce any person’s current holdings. Historical observations are not predictions.
Where it can struggle
Each sleeve can spend long periods lagging, and equal weights do not remove drawdowns, inflation risk, rate risk, or the need for a personal liquidity plan.